For individual investors in the UK

CTY The City of London Investment Trust plc

Renowned for its record-setting annual dividend increases since 1966, the Company targets long-term income and capital growth

ISIN
GB0001990497

Share price
421.00p
As of 26/01/2023

Estimated NAV
411.76p
As of 26/01/2023

Discount / Premium
2.24%
As of 26/01/2023

Yield
4.74%
As of 26/01/2023

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Overview

INVESTMENT OBJECTIVE

The Company’s objective is to provide long-term growth in income and capital, principally by investment in equities listed on the London Stock Exchange. The Board fully recognises the importance of dividend income to shareholders.

The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. Potential investors must read the latest annual report and where relevant, the key investor information document before investing. This website is for promotional purposes and does not qualify as an investment recommendation.

ABOUT THIS COMPANY

  • Invests mainly in UK equities with a bias towards large, multinational companies
  • A conservative management style that prioritises sustainable income and long-term capital growth
  • Provides UK investors with exposure to global growth through the portfolio’s overseas revenues
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RATINGS AND AWARDS

The City of London Investment Trust plc has been awarded the Kepler Growth and Income Rating for 2023.
Find out more about the methodology behind the award here.

Source: Morningstar, Kepler calculations, 01/01/2022 - 31/12/2022
Past performance does not predict future returns.

This is not substantive investment research or a research recommendation, as it does not constitute substantive research or analysis. Performance records are detailed on the specific KID, fees and charges may vary and further information can be found in the company’s prospectus and KID which must be reviewed before investing.

Past performance does not predict future returns. 
 

LATEST INSIGHTS

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ANNOUNCEMENTS

View the latest announcements for this Company:

London Stock Exchange

FREQUENTLY ASKED QUESTIONS

Source: Morningstar. Ratings updated quarterly.

PORTFOLIO MANAGEMENT

Job Curtis

Job Curtis

Fund Manager

Industry since 1983. Joined Firm in 1987.

David Smith, CFA

David Smith, CFA

Deputy Fund Manager

Industry since 2002. Joined Firm in 2002.

Performance

Past performance does not predict future returns.
Discrete Performance (%)
As of 31/12/2022
Net Asset Value Price
 
Quarter End
As of 31/12/2022 		2021/2022 2020/2021 2019/2020 2018/2019 2017/2018
Net Asset Value 5.10 20.07 -13.81 21.14 -10.12
Price 9.37 11.78 -11.75 20.53 -8.48
Note that any differences among portfolio securities currencies, share class currencies and costs to be paid or represented in currencies other than your home currency will expose you to currency risk.  Costs and returns may increase or decrease as a result of currency and exchange rate fluctuations.
Fund charges will impact the value of your investment. In particular, the ongoing charges applicable to each fund will dilute investment performance, particularly over time.
© Morningstar 2023. All rights reserved. The Price and Net Asset Value total returns.
Cumulative Performance (%)
As of 31/12/2022
NAV (Net) Price (Net)
 
As of 31/12/2022 1MO 3MO YTD 1YR 3YR 5YR 10YR
NAV (Net) -0.76 9.73 5.10 5.10 8.78 18.44 105.13
Price (Net) 0.24 10.43 9.37 9.37 7.89 19.01 101.33
Note that any differences among portfolio securities currencies, share class currencies and costs to be paid or represented in currencies other than your home currency will expose you to currency risk.  Costs and returns may increase or decrease as a result of currency and exchange rate fluctuations.
Fund charges will impact the value of your investment. In particular, the ongoing charges applicable to each fund will dilute investment performance, particularly over time.
© Morningstar 2023. All rights reserved. The Price and Net Asset Value total returns.
DIVIDENDS
Ex Dividend Date Pay Date Amount div p/ps
26-Jan-23 28-Feb-23 5.00
27-Oct-22 30-Nov-22 5.00
04-Aug-22 31-Aug-22 5.00
28-Apr-22 31-May-22 5.00
27-Jan-22 28-Feb-22 4.80
28-Oct-21 30-Nov-21 4.80
05-Aug-21 31-Aug-21 4.80
29-Apr-21 28-May-21 4.80
28-Jan-21 26-Feb-21 4.75
29-Oct-20 30-Nov-20 4.75
30-Jul-20 28-Aug-20 4.75
23-Apr-20 29-May-20 4.75

Portfolio

Top Holdings (As of 31/12/2022)
% of Fund
British American Tobacco 4.23
Shell 3.87
Diageo 3.51
BAE Systems 3.29
Unilever 3.00
AstraZeneca 2.97
BP 2.96
RELX 2.90
Imperial Brands 2.87
Rio Tinto 2.61
View full holdings
References made to individual securities do not constitute a recommendation to buy, sell or hold any security, investment strategy or market sector, and should not be assumed to be profitable. Janus Henderson Investors, its affiliated advisor, or its employees, may have a position in the securities mentioned.
Sector Allocation % OF FUND % OF FUND (As of 31/12/2022)
Country/Geographic Exposures % OF FUND % OF FUND (As of December 31, 2022)

Documents

Previous Annual Reports are available by contacting us by telephone or email.

Document View
The City of London Investment Trust plc - Approach to ESG
The City of London Investment Trust plc - Annual Report 2022
The City of London Investment Trust plc - Annual Report 2021
The City of London Investment Trust plc - Annual Report 2020
The City of London Investment Trust plc - Annual Report 2020
The City of London Investment Trust plc - Annual Report 2019
The City of London Investment Trust plc - Annual Report 2018
The City of London Investment Trust plc - Annual Report 2017
The City of London Investment Trust plc - Annual Report 2016
The City of London Investment Trust plc - Annual Report 2015
The City of London Investment Trust plc - Annual Report 2014
The City of London Investment Trust plc - Annual Report 2013
The City of London Investment Trust plc - Circular 2021
The City of London Investment Trust plc - Factsheet
The City of London Investment Trust plc - November 2022 Commentary
The City of London Investment Trust plc - Portfolio Disclosure
The City of London Investment Trust plc - Half Year Report 2021
The City of London Investment Trust plc - Half Year Report 2020
The City of London Investment Trust plc - Half Year Report 2019
The City of London Investment Trust plc - Half Year Report 2018
The City of London Investment Trust plc - Half Year Report 2017
The City of London Investment Trust plc - Half Year Report 2016
The City of London Investment Trust plc - Half Year Report 2015
The City of London Investment Trust plc - Half Year Report 2014
The City of London Investment Trust plc - Half Year Report 2013
The City of London Investment Trust plc - Half Year Update
The City of London Investment Trust plc - Notice of Meeting 2022
The City of London Investment Trust plc - Key Information Document (KID)
The City of London Investment Trust plc - AIFMD Disclosure
The City of London Investment Trust plc - Proxy Votes for 2022 AGM
The City of London Investment Trust plc - General Meeting 2021 Poll Results
The City of London Investment Trust plc - Terms of Reference of the Audit Committee
The City of London Investment Trust plc - Role of the Chairman
The City of London Investment Trust plc - Role of the Senior Independent Director
The City of London Investment Trust plc - Schedule of Matters Reserved for the Board
The City of London Investment Trust plc - Terms of Reference of the Nominations Committee
The City of London Investment Trust plc - Poll Results for 2020 AGM
The City of London Investment Trust plc - General Meeting 2020 Poll Results

Related Insights

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Related Insights
Is now the time to buy UK stocks?
25 Jan 2023
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Is now the time to buy UK stocks?

Job Curtis, Portfolio Manager of The City of London Investment Trust, looks back at 2022 and shares his insights on inflation, the cost-of-living crisis, and UK stock market valuations. Job also touches on the dividend outlook for 2023 and the key risks investors should be mindful off.

1 min read

The City of London Investment Trust Fund Manager Commentary – October 2022
15 Nov 2022
Investment Insights

The City of London Investment Trust Fund Manager Commentary – October 2022

Job Curtis, Portfolio Manager of The City of London Investment Trust, provides an update on the Trust, highlighting factors currently affecting the UK market, the key drivers of performance in October, and outlines recent portfolio activity.

2 min read

The City of London Investment Trust plc
14 Nov 2022
Investment Insights

The City of London Investment Trust plc

In this AGM Presentation, Job Curtis, Portfolio Manager of the City of London Investment Trust, discusses the Company’s performance over the last financial year, how he has been navigating inflation and interest risk, areas where he has been finding opportunities, and provides his outlook for dividends going forward.

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  • ​The value of the Funds and the income from them is not guaranteed and may fall as well as rise. You may get back less than you originally invested.
  • ​Past performance does not predict future returns
  • Third party data is believed to be reliable, but its completeness and accuracy is not guaranteed.
  • If a Company's portfolio is concentrated towards a particular country or geographical region, the investment carries greater risk than a portfolio diversified across more countries.
  • Where the Company invests in assets which are denominated in currencies other than the base currency then currency exchange rate movements may cause the value of investments to fall as well as rise.
  • This Company is suitable to be used as one component in several in a diversified investment portfolio. Investors should consider carefully the proportion of their portfolio invested into this Company.
  • Active management techniques that have worked well in normal market conditions could prove ineffective or detrimental at other times.
  • The Company could lose money if a counterparty with which it trades becomes unwilling or unable to meet its obligations to the Company.
  • Shares can lose value rapidly, and typically involve higher risks than bonds or money market instruments. The value of your investment may fall as a result.
  • The return on your investment is directly related to the prevailing market price of the Company's shares, which will trade at a varying discount (or premium) relative to the value of the underlying assets of the Company. As a result losses (or gains) may be higher or lower than those of the Company's assets.
  • The Company may use gearing as part of its investment strategy. If the Company utilises its ability to gear, the profits and losses incured by the Company can be greater than those of a Company that does not use gearing.
  • All or part of the Company's management fee is taken from its capital. While this allows more income to be paid, it may also restrict capital growth or even result in capital erosion over time.
  • The Company confirms that it currently conducts its affairs so that its ordinary shares of 25p each can be recommended by IFAs to ordinary retail investors in accordance with the Financial Conduct Authority’s (FCA) rules in relation to non-mainstream investment products and intends to continue to do so for the foreseeable future.
  • The shares are excluded from the FCA’s restrictions which apply to non-mainstream investment products because they are shares in an investment trust.
  • For detailed product information including the risks associated with investing please read the relevant Prospectus or Annual Report. Please refer to the AIFMD Disclosure document and Annual Report of the AIF before making any final investment decisions.